Indian Markets
The good tidings of the new year continue in to the second trading session with the main stock indices extending gains from the previous session on the back of encouraging data on the manufacturing sector from across the globe. Market breadth is healthy and India VIX fell as much as 4%.
Infosys, Wipro, Bajaj Auto, DRREDDY, Maruti, L&T, ICICI Bank, HDFC, Ranbaxy, Tata Steel, DLF, BHEL, Tata Power, Tata Motors, SBI, HUL were among the notable leaders in the Sensex and the Nifty.
M&M, BPCL, Sesa Goa were among the notable losers in the Sensex and the Nifty.
The BSE Small-Cap and BSE Mid-Cap index was trading flat.
Metal, Bankex, Realty, Power, PSU, HC, Auto, FMCG, Oil and Gas, IT indices are the gainers.
Asian Markets
Today the Asian indices are trading in the green with Kospi and Shanghai trading higher by 2.1% and 1.9% respectively. Taiwan is up by 1.3%. SGX Nifty is trading higher by 43 points.
Currencies
The Indian Rupee on Monday lost 20 paise to the Dollar to close at a fresh two-week low of 53.30/31, ending the first day of trading in the new year on a subdued note. Increased demand for the dollar from importers and concerns over the government’s widening fiscal deficit weighed on the sentiment.
Outlook
Today, the Indian market is likely to open in the green on the back of positive global cues and inch up further during the day. Among the sectoral indices, Capital Goods, IT and Oil & Gas stocks could do well while Auto stocks could underperform.
Source- Rh Morning market update, HDFCSEC
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